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Relm Holdings Inc. : Relm Holdings Sub Signs Real Estate Purchase Contracts

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^{Published in Business and Finance on Thursday, June 4th 2009 at 8:02 GMT, Last Modified on 2009-06-04 08:02:57 by Market Wire}  

WILMINGTON, DE--(Marketwire - June 4, 2009) - Relm Holdings Inc. (PINKSHEETS: [ RELM ]) announced the signing of two purchase contracts for a 32 unit multi-tenant commercial real estate property and a retail business and commercial building in New Jersey. These purchase contracts will replace the $5.8 million commercial property purchase agreement that was previously announced, but failed to close because of due diligence issues.

Both acquisitions are from the same seller and total $7 million. Based on the seller's information, the acquisition by Relm Real Estate Holdings Inc., a subsidiary of RELM, is expected to result in an annual EBITDA of $1.2 million.

This acquisition is in line with RELM's strategy to lead a vertically integrated family of companies that provides full solutions for its affiliates. RELM's management team is currently working on additional acquisitions of comparable real estate to be purchased by RELM's subsidiary, Relm Real Estate Holdings.

The team plans to restructure the existing agreement with the primary stock lender, which provided Series A Preferred Shares to be used as collateral, as these properties are expected to be funded by third party lenders and a corporate offering. Both purchases will be serviced using RELM's proprietary BCLOC Platform.

About RELM

RELM Holdings Inc. is a holding company and since 1994 has conceived, designed, and developed new innovative financial products that "absorb asset risk." RELM's business model is to acquire companies that help support its financial and technology products. RELM intends to lead a vertically integrated family of companies that provides full solutions for its affiliates and clients from underwriting, servicing, raising capital, and commercialization, to securitization and guaranty of its products in the marketplace For more information about the company, please visit [ www.relmholdingsinc.com ].

SAFE HARBOR

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond the control of the company, which include the ability of the company to implement its newly expanded business model or acquiring businesses and real estate, actual results may differ materially from the expectations expressed in the forward-looking statements.